World Bank revises SA’s growth to 0.9% - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The World Bank has cut economic growth for South Africa to below 1% for 2020 due to electricity supply concerns, among other things. The bank now forecasts the country’s growth at 0.9%.

The bank’s revision comes as Eskom resumes rolling blackouts earlier than expected. Eskom says load shedding will continue until 6 o’clock on Friday morning. In a statement Eskom says its reserves are also low and unable to meet demand. Eskom Spokesperson Dikatso Mothae explains, “We lost additional generations capacity overnight with break downs of over 14 000 Megawatts. We previously said that in order to avoid load shedding that we need to contain those unplanned outages or break downs to below 9 500. We had to use our emergency reserves overnight. So currently, we have depleted those to meet the demand for electricity during the day.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tensions between US, Iran will have a huge impact on South Africa: Mboweni - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Finance Minister Tito Mboweni has warned that tensions between the US and Iran are a threat to South Africa as they are likely to affect the global economy. Emphasise on 'huge' . Please elaborate Cowards speak like him, always wanting to be soft on usa while it self is not soft.
Source: SABC News Online - 🏆 32. / 51 Read more »